net new active accounts and engagement across our platform.


you'll start to see them have a little bit of a revenue contraction as those lower lead costs


The protocol requires only 1 patient at each of the 2 lowest dose levels,

the protocol requires only one patient at each of the 2 lowest dose levels


Many of these decisions came at a cost, but they were definitely the right thing to do.

many of these decisions came at a cost but they were definitely the right thing to do


to execute these projects and reduce risk going forward


growing at a decent rate and as profitable as you are?


Not only is it we're selling more of a complete bundle, but also the clients

not only is it we're selling more from a complete bundle but also the clients


Even if it's not been proven to be viable?

even if it's not been proven to be viable


And can continue to provide low carbon and reliable electricity.

and can continue to provide low carbon and reliable electricity


really focused on the execution and selling installation in the stores.


just as you've known us to do over time. We'll look selectively and very carefully

just as you've known us to do over time we'll look selectively and very carefully


and the tremendous efficiency in our manufacturing and organizational infrastructure.


but -- because I don't know how that revenue is going to flow into those quarters yet. It's very hard for us

but because i don't know how that revenue is going to flow into those quarters yet it's very hard for us


with the new technology, we are shipping so much faster and more efficiently.

with the new technology we are shipping so much faster and more efficiently


Although the partnership believes that the expectations reflected in such forward-looking statements are reasonable,

although the partnership believes that the expectations reflected in such forward-looking statements are reasonable


Actual results may differ materially from those suggested by our comments today.

actual results may differ materially from those suggested by our comments today


We ended the quarter with strong leverage ratios and have ample room under our financial covenant.

we ended the quarter with strong leverage ratios and have ample room under our financial covenants


and then replicating that as you continue to expand


When you look at the competitive landscape today, most of the consumer's financial wallet is with the big banks.

when you look at the competitive landscape today most of the consumers' financial wallet is with the big banks


The total number of fixed mobile additions this quarter was in line with last quarter.

the total number of fixed mobile additions this quarter was in line with last quarter


but there was no change in the main trends compared with the first quarter.


and we have the strength and flexibility to support our business over the long term.


Asia results were also down on lower current crop sales and delayed shipment timing.

asia results were also down on lower current crop sales and delayed shipment timing


And that directly had an impact on the conversion rate, which rebounded

and that directly had an impact on the conversion rate which rebounded


Oil Search has seen a very positive response from Northeast Asian buyers in particular.

oil search has seen a very positive response from northeast asian buyers in particular


as we sit right now and we'll progress it as a matter of urgency over the coming weeks.


with pluses and negatives across the customer base and within any given customer across


for serving our customers at the highest level and for continuing to optimize our business.


per year, they could all happen at the same time or not.

it's per year they could all happen at the same time or not


now looking at the adjusted earnings. With all those adjustments,

now looking at the adjusted earnings with all those adjustments


primarily in 14 investments, most of which were senior secured loans.

primarily in 14 investments most of which were senior secured loans


So we're independent vendors. So we're able to play with all the different

so we're an independent vendor so we're able to play with all the different


And also if you can give a little more color on your comments about the age limits that you're seeing and

and also if you can give a little more color on your comments about the age limits that you're seeing and


That's not the case right now. Now if you're asking me to kind of hypothesize about looking out

that's not the case right now now if you're asking me to kind of hypothesize about looking out


and the market increasingly focused on shareholder returns and free cash flow generation,


In addition, references will be made during this call to non-GAAP financial results.

in addition references will be made during this call to non-gaap financial results


and recently received sales for a large infrastructure project as mentioned in our press release.


and the established recruitment and training processes really start to scale now.


The second quarter was the last full quarter of Morpheus impact year-over-year.

the second quarter was the last full quarter of morpheus impact year-over-year


year. Shouldn't the company be thinking about cash deployment

shouldn't the company be thinking about cash deployment


And so we continue to think -- we don't have any specific target for it.

and so we continue to think -- we don't have any specific target for it


I think the Trump campaign is a unique and special

i think the trump campaign is a unique and special


In partnership with Teads, a global outstream video advertising network,

in partnership with peds a global outstream video advertising network


So before opening up the call to questions, a few final comments from me.

so before opening up the call to questions a few final comments from me


whereas then in the industrial cranes and crane components business units,


I understand some of the things that you've discussed regarding


countries and languages. So we've been focusing on that and trying to simplify the offering

countries and languages so we've been focusing on that and trying to simplify the offering


having some extra costs in connection with the acquisition of SCALES.

having some extra costs in connection with the acquisition of scales


So we continue to monitor market developments. But simply put, it's all good

so we continue to monitor market developments but simply put it's all good


I'm not going to set through in too much detail on the cash flow that I have

i'm not going to set through too much detail the cash flow but i have


and we will leverage our brand vision into a much stronger consumer offering.


by the institution that we referenced. And

by the institution that we referenced and


We've spent a lot of time working on the productivity of our promo planning, which you've heard a lot about.

we've spent a lot of time working on the productivity of our promo planning which you've heard a lot about


At the conclusion of the company's presentation, we will open the call for questions.

at the conclusion of the company's presentation we will open the call for questions


So those do represent a good portion of the backlog as well. So

so those do represent a good portion of the backlog as well so


delayed replacement in rentals. So just curious how we should be thinking about next year.

delayed replacement and rental so just curious how we should be thinking about next year


Turning to expenses. Overall, our expenses for the first quarter were in line with expectations.

turning to expenses overall our expenses for the first quarter were in line with expectations


and we're excited to help address the unmet needs of veterans struggling with schizophrenia.


Those projects all stayed well on track and within our budgeted projections.

those projects all stayed well on track and within our budgeted projections


to offer favorable finance or payment terms


based on the plan implementation schedule for new business signed in the latter half of last year.

based on the planned implementation schedule for new business signed in the latter half of last year


and shifted some of our professional services capacity to third parties.


We expect to reinvest some of the additional contribution from this revenue growth

we expect to reinvest some of the additional contribution from this revenue growth


To sum up the quarter, I'm extremely proud of our performance.

to sum up the quarter i'm extremely proud of our performance


takes place under the current EC framework, and the last time

takes place under the current ec framework and the last time


In China, there is a saying, fit the appetite to the dishes.

in china there is a saying fit the appetite to the dishes


that this number will also increase over the next months.


As you can see, with this growth, we're also steadily widening the aperture over time

as you can see with this growth we're also steadily widening the aperture over time


we're choosing to adopt a broadly more cautious outlook for the second half of our fiscal year.

we are choosing to adopt a broadly more cautious outlook for the second half of our fiscal year


is to take a base that has been declining gently over several years and tip into gentle growth.

is to take a base that has been declining gently over several years and tip it into gentle growth


where we increased occupancy slightly, but we saw a continued pressure on rate.

where we increased occupancy slightly but we saw continued pressure on rate


than we tend to be at Knight, and we don't really have any plans to

than we tend to be at night and we don't really have any plans to


Now last quarter, you may recall I talked about Elo, the largest credit card in Brazil,

now last quarter you may recall i talked about elo the largest credit card in brazil


due to the rate revisions that we did and


It's got a different type of recess membrane and it's going to bring some new packaging ideas that

it's got a different type of recessed membrane and it's going to bring some new packaging ideas that


Based on our performance year-to-date, taking into account current market conditions

based on our performance year-to-date taking into account current market conditions


And for the existing orders that we received prior to this

and for the existing orders that we received prior to this


We always said that 1 quarter in this business is not really important.

we always said that one quarter in this business is not really important


had fallen behind over the last year. The brand holds a very high share

had fallen behind over the last year the brand holds a very high share


is actually part of the basis on which the bonus is


as well as good working capital management by the end of the year.


We operate for the long-term, so we look at -- don't look at daily fluctuations and

we operate for the long term so we look at -- don't look at daily fluctuations and


creating sustainable, expandable and profitable customer relationships.

creating sustainable expandable and profitable customer relationships


Further moderations in the funds net outflows is evident in January.

further moderation in the fund's net outflows is evident in january


infer any effect size from the information that Amgen have yet published

infer any effect size from the information that mgen have yet published


We are in a rising interest rate environment, which is positive for margins.

we are in a rising interest rate environment which is positive for margins


Yet our industry-leading technology has driven much of the recent growth we've seen in this business.

yet our industry-leading technology has driven much of the recent growth we've seen in this business


the sheer quality and energy and commitment of the Saudi workforce there.

and the sheer quality and energy and commitment of the saudi workforce there


complementing and enhancing the value of the other. They'll work as a system together

complementing and enhancing the value of the other they'll work as a system together


We are -- continue to invest in a disciplined way through this latest cycle.

we are continuing to invest in a disciplined way through this latest cycle


We will be able to scale the respective supply over time, but it will have this impact,

we will be able to scale the respective supply over time but it will have this impact


We intend to grow the dividend in line with the growth of our fee-related earnings.

we intend to grow the dividend in line with the growth of our fee-related earnings


with a shrinking component in open-ended funds in traded liquid assets.


I was very proud of our associates who expressed the desire to help those recently impacted,

i was very proud of our associates who expressed the desire to help those recently impacted


expanded its presence globally and set the stage for continued growth going forward.


we have known that the first half of this year would have more year-over-year earnings pressure,


we see attractive opportunities to expand clinical development activity in the near term.


maintaining a strong financial foundation, and engaging and developing our people.

maintaining a strong financial foundation and engaging and developing our people


In that consultation document, the proposed returns for gas and transmission

in that consultation document the proposed returns for gas and transmission


I'll use that as a base in explaining the year-over-year drivers for comparability purposes.

i'll use that as a base in explaining the year-over-year drivers for comparability purposes


Does that reinforce your confidence? And how should we think about the contribution to the growth?

does that reinforce your confidence and how should we think about the contribution to the growth


an increase of more than 50% that is largely due to the impact of our acquisitions.


kind of superior on the service and quality, delivery to our customers and try to

be superior on the service and quality delivery to our customers and try to


This excludes the impact of consolidating franchisees during the quarter.

this excludes the impact of consolidating franchisees during the quarter


We are also even more confident now with our pathway to drive Galafold sales

we are also even more confident now of our pathway to drive galafold sales


environment as far as we see in our legacy business in Europe has

environment as far as we see in our legacy business in europe has


seems like your store business is growing at or better than the market.

it seems like your store business is growing at or better than the market


We are forever indebted to the people who made Cornerstone what it is today.

we are forever indebted to the people who made cornerstone what it is today


I'll now turn the call back over to Tom for his closing remarks. Thanks, Bruce.

i'll now turn the call back over to tom for his closing remarks thanks bruce


in that case you move like a commodity, we manage in that case margin. And

in that case you move like a commodity we manage in that case margin and


But we had also


but now that we've got a couple of years of history behind us, we've targeted them

but now that we've got a couple of years of history behind us we've targeted them


The volatile investment market had a huge impact on the result for this quarter.

the volatile investment market had a huge impact on the result for this quarter


So any such transaction would be contemplated only if it created value

so any such transaction would be contemplated only if it created value


If we look at the mobile market share of this quarter, it seems to have

if you look at the mobile market share of this quarter it seems to have


which gets offset by some of the content management that we're doing in that space.


in more and more automotive and industrial applications.


production, in much the same way as we've been doing again at Peshkabir for the last 18 months.

for production in much the same way as we've been doing again at peschkebier for the last 18 months


what origination volumes are, where our producers are in their annual splits et cetera, et cetera.

what origination volumes are where our producers are in their annual splits et cetera et cetera


So that's probably going to take the balance of the year. But I mean, we took

so that's probably going to take the balance of the year but i mean we took


primarily due to lower sales in the first quarter.


A complete summary of the amendment was included in our 8-K filing in early June

a complete summary of the amendment was included in our 8-k filing in early june


the price of fuel and general economic conditions.


is it fair to say that if the year breaks the way you think it will, you should do better than that?

is it fair to say that if the year breaks the way you think it will you should do better than that


We're also building out in our tri-party operations an automated rules engine so that

we're also building out in our tri-party operations an automated rules engine so that


certainly from our own statements, from the comps we've heard from a number of our

certainly from our own statements from the comps we've heard from a number of our


we want to make sure that we've got the capability to deliver the best cancer treatment


products, product categories that could be significant sales drivers between

products product categories that could be significant sales drivers between


and full revenue price points that are consistent between ourselves and our competitors.


Another is an ERP vendor, a vendor to some of our existing ARC customers.

another is an erp vendor a vendor to some of our existing arc customers


And then two, can you give us a sense as to what -- it has been about a year since

and then two can you give us a sense as to what -- it's been about a year since


And then my final question was just on the operating variances within the AFR, because

and then my final question was just on the operating variances within the afr because


including the transition periods we have with the current leaders there.


Correspondent Production should continue to generate significant income,

correspondent production should continue to generate significant income


Then you can really make a lot of progress in implementing and executing the strategy.

then you really can make a lot of progress in implementing and executing the strategy


in the investment community had interpreted our revision as a cut.


and the fact that the rule really does emphasize the importance of choice counseling for beneficiaries,


study and also begin our cisternal study in order to really drive

newton study and also begin our cysternal study in order to really drive


if there was anything in terms of a price impact in there as well?


when you think about it, what we did is,


for subordinate and voting common shares and multiple voting shares outstanding.


Gains will continue to come from driving efficiency in every aspect of the business

gains will continue to come from driving efficiency in every aspect of the business


the increase in our domestic productivity -- the domestic production activity deduction

the increase in our domestic productivity -- domestic production activity deduction


Infrastructure backlog was down mainly due to not having a large pellet plant on order.

infrastructure backlog was down mainly due to not having a large pellet plant on order


we do expect some uptick on the net one. That's what we've guided to.

we do expect some optic on the net one that's what we've guided to


we can't say anything until there's something to talk about specifically, but

we can't say anything until there's something to talk about specifically but


We have also posted a PDF version of the slide presentation for this call.

we have also posted a pdf version of the slide presentation for this call


Next, I will provide you with an opportunity to ask questions.

next i will provide you with an opportunity to ask questions


When you think about the California plants and the changes in that market,

when you think about the california plants and the changes in that market


On Slide 5, we can start with a review of the Polymer segment financial results.

on slide 5 we can start with a review of the polymer segment financial results


It will expand our digital capabilities to further improve our personalization.

it will expand our digital capabilities to further improve our personalization


Great. And does that usually close in one big chunk or like a series of different closings over time?

great and does that usually close in one big chunk or like a series of different closings over time


and we are currently in the beginning of executing on it


And with our new Vetri model, we're targeting the higher-end customers

and with our new venture model we're targeting the higher-end customers


as a result of their strategic actions to better position the company for long-term success.


Equally, I'm delighted with the velocity in all aspects of our business,

equally i'm delighted with the velocity in all aspects of our business


along with acquisitions during the past year allowed us to grow revenue just slightly

along with acquisition during the past year allowed us to grow revenue just slightly


So as -- this year, the long end came down when the short end came up,

so as -- this year the long end came down when the short end came up


as we can now provide a complete integrated steering solution to our customers.


we like that balance. We really think it's a good thing for the brand and for our national expansion.

we like that balance we really think it's a good thing for the brand and for our national expansion


We believe that our initial efforts in this regard are helping drive our performance.

we believe that our initial efforts in this regard are helping drive our performance


The thing that gets lost sometimes in translation is we train people to do things the Main Street way.

the thing that gets lost sometimes in translation is we train people to do things the main street way


On the capital resources front, our liquidity and overall capitalization remained strong.

on the capital resources front our liquidity and overall capitalization remains strong


using all the available data we have from the first trial, from the completers of the first trial.

using all the available data we have from the first trial from the completers of the first trial


Martha is also currently a guest judge on Chopped.

martha is also currently a guest judge on chopped


we have flexibility to ensure that we take advantage of optimal market conditions.


So -- and the third one that I mentioned was that

so and the third one that i mentioned was that


but we have plenty of tools and levers that we can pull ultimately to make sure that we're continuing to


for instance, and really want to engage with us on that and it leads to something else. So

for instance and really want to engage with us on that it leads to something else so


overseas and the implementation of surgical pricing actions domestically,


that? And then maybe what are the steps you plan to maybe turn around that?

that and then maybe what are the steps you plan to maybe turn around that


making a good point in that there certainly is an offsetting

you're making a good point and that there certainly is an offsetting


and will be able to work with all the efficiency needed.

and we'll be able to work with all the efficiency needed


on a journey towards delivering profit growth at twice the rate of revenue growth.

on our journey towards delivering profit growth at twice the rate of revenue growth


Turning to guidance. Looking forward to the remainder of the year,

turning to guidance looking forward to the remainder of the year


of conversion from natural grass field to artificial turf


to their expertise in introducing our product in this important geography.


With the drilling and with our work on the base that includes

with the drilling and with our work on the base that includes


we believe the ability to make an investment of this size,


We expect to have around 3 million customers using this service by the year-end.

we expect to have around 3 million customers using this service by the year-end


And then Larry will go over Core's 2 operating segments, detailing our progress

and then larry will go over core's 2 operating segments detailing our progress


which tends to focus your attention on looking at those businesses.


when will these be paid out and will they, in fact, be paid out at all?

when will these be paid out and will they in fact be paid out at all


what are you personally most proud of? And what are you looking forward to in terms of continuing to kind of

what are you personally most proud of and what are you looking forward to in terms of continuing to kind of


But we're looking forward to painting a picture for you guys when you get here

but we're looking forward to painting a picture for you guys when you get here


I had a couple of questions for you. First of all, could you tell me

i had a couple of questions for you first of all could you tell me


There is nothing you can do. It smells a little bit there for

there is nothing you can do it smells a little bit there for


part of the university and obviously the public company has a publicly


We continue to evidence the strong cash flow generating capacity of our business

we continued to evidence the strong cash flow generating capacity of our business


I mean, that is exactly what we're doing. We want the exploration folks to know that,

i mean that is exactly what we're doing we want the exploration folks to know that


is inclusive of our new Church Management solution investment, which is being developed internally.

is inclusive of our new church management solution investment which is being developed internally


And I think what's happened is our customers -- and again, I think everything has to be put in perspective.

and i think what's happened is our customers -- and again i think everything has to be put in perspective


And as we make further progress on our network, fraud, waste and abuse and care management initiatives,

and as we make further progress on our network fraud waste and abuse and care management initiatives


your level of prices in Latin America or in Brazil specifically

your level of prices in latin america or in brazil specifically


After separation, refining, it is transported either through the pipeline

after separation refining it is transported either through the pipeline


it's not a big issue either way because we have very small cash balance, and we don't really have

it's not a big issue either way because we have a very small cash balance and we don't really have


that will be a good cultural fit for us that we can easily digest. So

that will be a good cultural fit for us that we can easily digest so


the piece of the business in that segment had a 7%, I guess, negative

the piece of the business in that segment had a 7% i guess negative


people paying down on overall ticket value instead of suspending trips?


getting to the point where we generate cash at the operating level on a full year basis as well.

get into the point where we generate cash at the operating level on a full year basis as well


And so the other thing we mentioned already but we are exploring strategic options

and so the other thing we mentioned already but we are exploring strategic options


to total cap ratio, we've got room to absorb some of that without jeopardizing

to total cap ratio we've got room to absorb some of that without jeopardizing


that we were able to finally close in the third quarter.

that we were able to finally close in end of third quarter


We have historically followed a process of

we have historically followed a process of


we feel like, by doing so, we're helping our new competitors more than we

we feel like by doing so we're helping our new competitors more than we


the Tennessee DOT is trying to accelerate that spending, but it always takes a little time.

the tennessee dot is trying to accelerate that spending but it always takes a little time


people who didn't know this was an opportunity, customers who didn't know they could actually

people who didn't know this was an opportunity customers who didn't know they could actually


we are implementing a number of initiatives to expand au Economic Zone.

we are implementing a number of initiatives to expand au economic zone


The first airframe manufactured in Jacksonville arrived in Bloomfield in the fourth quarter,

the first airframe manufactured in jacksonville arrived in bloomfield in the fourth quarter


manner. So the expenses for CRD will ramp during the year

manner so the expenses for crd will ramp during the year


Turning to Slide 8. This is a snapshot of our Innovation and Technology pipeline.

turning to slide 8 this is a snapshot of our innovation and technology pipeline


And we are rapidly building the Infrastructure to support those efforts in a cost effective and prudent manner.

and we're rapidly building the infrastructure to support those efforts in a cost-effective and prudent manner


In terms of color on that, I would say it was no one thing,

in terms of color on that i would say it was no one thing


facility lookup and full price transparency directly to the consumer


Productivity enhancements also contributed to the operating leverage experienced in the segment

productivity enhancements also contributed to the operating leverage experienced in the segment


Our improved performance led to significantly higher returns on invested capital

our improved performance led to significantly higher returns on invested capital


service providers are still moving cautiously in terms of commercial traffic and actual spending.


emission control systems and then the technology and advanced materials components of the revenue?


event that the order intake doesn't pick up as early as you hope?


Before discussing our outlook, I'll turn to Dan for additional color on the first quarter. Dan?

before discussing our outlook i'll turn to dan for additional color on the first quarter dan


And by delivering this vertical product and technology strategy,

and by delivering this vertical product and technology strategy


including those related to the company's outlook, are based on management's current expectations,

including those related to the company's outlook are based on management's current expectations


generally the subject of discussion, which is, what are we seeing in the market, what are we seeing from our clients,

generally the subject of discussion which is what are we seeing in the market what are we seeing from our clients


so far this year, and I think that's likely to continue in the second quarter,

so far this year and i think that's likely to continue in the second quarter


But they've kind of sat in their own little silos and

but they've kind of sat in their own little silos and


and we continue to look at possibly monetizing the mobile traffic.


And after the call, a replay will be available for you.

and after the call a replay will be available for you


open up new territories in terms of new utility geographies that we serve.


and then utilize one of the other projects that we're working on to continue to deploy capital for the long term.


Therefore, the company claims the safe harbor protection and forward-looking statements contained in the Private

therefore the company claims the safe harbor protection in forward-looking statements contained in the private


from a standpoint of not only providing hardware, but also software.

from a standpoint of not only providing hardware but also software


We continue to see high single-digit local currency growth in our European credit operations.

we continue to see high single-digit local currency growth in our european credit operations


related to employee share-based payments through the income statement.


Moving to the income statement, I'll start by talking you through the results by division.

moving to the income statement i'll start by talking you through the results by division


We have implementation programs in progress with a growing number of major media players.

we have implementation programs in progress with a growing number of major media players


A lot of young people own a lot of options in something that could be very valuable.

a lot of young people own a lot of options in something that could be very valuable


as well as the Total Hip Application, and is supporting the growth we are seeing in both franchises.

as well as the total hip application and is supporting the growth we are seeing in both franchises


and the resulting network would continue to use many of the acquired sites.


but I would love to hear your thoughts about the medium and the long-term, how do you think that

but i would love to hear your thoughts about the medium and the long term how do you think that


we're getting a good outcome to accelerate some of our objectives there.


but up sequentially from the second quarter, and we posted positive operating income.

but up sequentially from the second quarter and we posted positive operating income


In summary, we are pleased with the first half results from our Services segment.

in summary we are pleased with the first half results from our services segment


So what I would say is that my team is working diligently with

so what i would say is that my team is working diligently with


It's very difficult to change that. You have to start with infants.

it's very difficult to change that you have to start with infants


as people move from, just like in the rest of the world, as they move onto mobile, and

as people move from just like in the rest of the world as they move on to mobile and that's


for quite some time, as I mentioned earlier. But what we see as well right now is that

for quite some time as i mentioned earlier but what we see as well right now is that


But it basically means that if the clients decides to

but that basically means that if the clients decides to


we've always indicated that we'd see an increase in working capital requirements.

we've always indicated that we'll see an increase in working capital requirements


fairly good at recovering what those costs might be on the paper side of the business.


And on top of that, of course, we have another very important factor which is the language problem.

and on top of that of course we have another very important factor which is the language problem


Our Healthcare team evaluated many financing opportunities during the quarter,

our health care team evaluated many financing opportunities during the quarter


expanding our ETF platform and new product launches as well as new technology.

expanding our etf platform and new product launches as well as new technology


was partially mitigated by the high interest rate environment in Brazil.

was partially mitigated by the high interest rate environment in brazil


In the current environment, with many adult smokers trading up into premium brands,

in the current environment with many adult smokers trading up into premium brands


to be a reliable future stream with partners that have significant reach.


We are beginning to see results such as the acceleration of the Red Lake development.

we are beginning to see results such as the acceleration of the red lake development


We also continue to expand our long-standing presence in emerging markets

we also continue to expand our long-standing presence in emerging markets


And are you going to break that out for us at some point?

and are you going to break that out for us at some point


Is that probably the operational changes you made that maybe allowed you to buy a little bit more?

is that part of the operational changes you made that maybe allow you to buy a little bit more


I also want to provide an update on our overall asset expectations for NPH. When

i also want to provide an update on our overall asset expectations for mph


and uncertainties that may cause actual results to differ materially.


we will refranchise the business. And that's what we did in Jordan. That's what we did in Thailand.

we will refranchise the business and that's what we did in jordan that's what we did in thailand


What I can tell you is that today, we have the best possible offer

what i can tell you is that today we have the best possible offer


some of the Northern European cereal crops were a little bit slower, and I think you'll

some of the northern european cereal crops were a little bit slower and i think you'll


There will be potentially an increase in capital requirements

there will be potentially an increase in capital requirements


Please note that non-GAAP financial measures should not be considered in isolation from,

please note that non-gaap financial measures should not be considered in isolation from


Let me just take a minute and talk about divestitures as a general topic.

let me just take a minute and talk about divestitures as a general topic


We are very excited and pleased with our team's solid progress in this new arena.

we are very excited and pleased with our team's solid progress in this new arena


independents operating at scale that's actually acquiring and releasing these films. So

independence operating at scale that's actually acquiring and releasing these films so


What's most important is to maximize sales

what's most important is to maximize sales


along with our ability to earn incentive revenues are 2 very strong reasons


So if we would -- therefore we thought really keeping them

so if we would -- therefore we thought really keeping them


repeat those successes. And it's something that's doable

repeat those successes and it's something that's doable


Should we read that it could be down sequentially in the second quarter versus the first quarter?

should we read that it could be down sequentially in the second quarter versus the first quarter


and potentially worsen, which will weigh on category and revenue growth.

and potentially worsen which will weigh on category and revenue growth


We'll continue to look for ways to unlock the value of those properties for investors

we'll continue to look for ways to unlock the value of those properties for investors


okay? So it's not like these are customers we didn't know before.

okay so it's not like these are customers we didn't know before


Actual results may differ materially from those expressed from these forward-looking statements.

actual results may differ materially from those expressed from these forward-looking statements


And two, most of our focus on this is frankly going to be on the implications to product and wanting to ensure that

and two most of our focus on this is frankly going to be on implications to product and wanting to ensure that


on the average cost of our investment. This is consistent with the prior quarter.

on the average cost of our investment this is consistent with the prior quarter


These Materials Handling and logistics focused companies are massive

these materials handling and logistics-focused companies are massive


In particular, we will provide guidance regarding possible future income statement results

in particular we will provide guidance regarding possible future income statement results


but our expectation at this point is one of caution with those particular customers.


what are the categories that you are looking for to moderate more fully then

what are the categories that you are looking for to moderate more fully than


The share gains in the quarter have been broad, with almost all markets showing a positive performance.

the share gains in the quarter have been broad with almost all markets showing a positive performance


while being agile to changing market conditions to ensure we meet our customers' needs.


we provide certain information and database on traffic flow in and out of the stores,

we provide certain information and data based on traffic flow in and out of the stores


cancer test growth in the reproductive health segment, but I think that's just more of a matter of the

cancer test growth in the reproductive health segment but i think that's just more of a matter of the


In addition, we closed on an additional 4 properties shortly after the quarter closed

in addition we closed on an additional 4 properties shortly after the quarter closed


so you get some of that impact. Also, when we sold the catering business,

so you get some of that impact also when we sold the catering business


We observed strong margins in the quarter as our GAAP operating margin

we observed strong margins in the quarter as our gaap operating margin


but we do have a very clear understanding of our own program, our own data

but we do have a very clear understanding of our own program our own data


if it tucks right in, whether we can expect it to be sort of in line with the company average.

if it tucks right in whether we can expect it to be sort of in line with the company average


to discuss our results in detail. Then I will come back

to discuss our results in detail then i will come back


Let me share with you what we're doing in each, starting with scotch.

let me share with you what we're doing in each starting with scotch


the negative impact of the currency devaluation of last year


I would say, maybe slightly longer lead times than average on the market,

i would say maybe slightly longer lead times than average on the market


how loaded is the cost base when you make that comment? So does that include investment costs,

how loaded is the cost base when you make that comment so does that include investment costs


So it all depends on how we choose to -- what we choose to do with our customer offering

so it all depends on how we choose to -- what we choose to do with our customer offering


You've heard from several of our peers already, it's definitely choppy out there.

you heard from several of our peers already it's definitely choppy out there


your primary competitor at the global level saw a decent demand in the quarter.

your primary competitor at the global level saw decent demand in the quarter


Much like how one of the world's leading family entertainment and media enterprises is doing

much like how one of the world's leading family entertainment and media enterprises is doing


similar to where it was before the accelerated program. And then

similar to where it was before the accelerated program and then


For the portion we singled out in artificial insemination,

for the portion we singled out in artificial insemination


Matt will talk about those in greater detail later on the call.

matt will talk about those in greater detail later on the call


Having just completed business to many of our locations,

having just completed business to many of our locations


this transaction would trigger an obligation to repay all amounts outstanding on our credit facility,


for new GCU to enter into a shared services agreement with the company.

for new gcu to enter into a shared services agreement with the company


Now clearly, when you bring on the number of new hospitals that we did last year with Reliant,

now clearly when you bring on the number of new hospitals that we did last year with reliant


as we benefited from tax credits in relation to pretax operating results.


with our own brands which will be identified and differentiated. As well as, as

with our own brands which will be identified and differentiated as well as and as


But the stronger market still has remained one of the weaker spots while everything else has been

but the chicago market still has remained one of the weaker spots while everything else has been


and authentic brands that support a cause or higher purpose.


As noted in our press release, we expect our earnings per share for the third quarter,

as noted in our press release we expect our earnings per share for the third quarter


seems like just phenomenally strong performance, given all the other stuff we've seen in ag.

seems like just phenomenally strong performance given all the other stuff we've seen in ag


You are talking about completion bond.


what is the -- could you elaborate on the profit


Good morning. My name is Lindsey, and I will be your conference operator today.

good morning my name is lindsay and i will be your conference operator today


any of that to actually happen or are we just going to see more related party transactions?

any of that's actually happened or are we just going to see more related party transactions


I think that if we can execute, I think certainly LUNA will definitely start to produce

i think that if we can execute i think certainly luna will definitely start to produce


business automation, mobility and robotic process automation

business automation mobility and robotic process automation


These benefits were partially offset by the quarterly impact

these benefits were partially offset by the quarterly impact


These new capabilities will help drive the next slate of growth, and we expect we'll extend the record

these new capabilities will help drive the next level of growth and we expect will extend the record


it is certainly something that we continue to watch and our distributor partners continue to watch. And

it is certainly something that we continue to watch and our distributor partners continue to watch and


this is our current thinking and really, just to kind of answer your question, we think it will be higher.

this is our current thinking and really just to kind of answer your question we think it will be higher


Foolproof is doing very well to win and position us differently

foolproof is doing very well to win and position us differently


and continually going to focus on ways to streamline the operations


I felt like the price estimate had credibility and deserved further discussion.

i felt like the price estimate had credibility and deserved further discussion


what products are available. They're wanting to understand what games are available with those products.

what products are available they're wanting to understand what gains are available with those products


But it sounds like maybe the disruption from that has been greater than what you expected.

but it sounds like maybe the disruption from that has been greater than what you expected


that there shouldn't be a surprise coming out of that because we have done here a good job


Additionally, our realized prices continue to be supported by our hedge position,

additionally our realized prices continue to be supported by our hedge position


And pleasingly, given we are investing in growth, the cost of doing business percentage

and pleasingly given we are investing in growth the cost of doing business to percentage


But to the first part of your question, the benefits of having new homes

but to the first part of your question the benefits of having new homes


I'll now turn from the top line to our pricing actions.

i'll now turn from the top line to our pricing actions


So we do have some principles in which we are making our decisions. And I hope this helps you

so we do have some principles in which we are making our decisions and i hope this helps you


broken it down on product portfolio basis for us, and we see a significant improvement opportunity there

broken it down on product portfolio basis for us and we see a significant improvement opportunity there


The information that we are discussing today reflects our expectations as of today and are subject to change.

the information that we are discussing today reflects our expectations as of today and is subject to change


As we continue to manage through the retirement of these aircraft,

as we continue to manage through the retirement of these aircraft


but there's nothing that is going to be announced in the next 2 weeks, that's for sure.

but there's nothing that is going to be announced in the next 2 weeks that's for sure


A general meeting to approve the necessary resolutions will take place tomorrow.

a general meeting to approve the necessary resolutions will take place tomorrow


It's more like how much of the content that's out there we really want to have. So

it's more like how much of that content is out there we really want to have so


So just trying to understand outside of Tamil Nadu, what are the challenges to growth?

so just trying to understand outside of tamil nadu what are the challenges to growth


to increase our investment to capture greater market share as a platform.


and there's still lots of productivity opportunity ahead of us. And I know Greg and team

and there's still lots of productivity opportunity ahead of us and i know greg and team


and expect to finalize our selection of the successful bidder by late November.

and expect to finalize our selection of the successful bidder by late november


We also recently began field work on the Total ethylene plant in Port Arthur, Texas,

we also recently began field work on the total ethylene plant in port arthur texas


Reduction of operating expenses on a run-rate basis continues to be a focus

reduction of operating expenses on a run rate basis continues to be a focus


basically getting good terms on cash and getting good terms on profitability.

basically getting good terms in cash and getting good terms on profitability


I'm curious if you can maybe put a little more revenue color on that? Should we be thinking of the magnitude of

i'm curious if you can maybe put a little more revenue color on that should we be thinking of the magnitude of


This investment took the form of facilities, people and services,

this investment took the form of facilities people and services


summarize, we continue to execute on the 2 core components of our business strategy.

to summarize we continue to execute on the 2 core components of our business strategy


A normal life to them is an effective and convenient prophylactic therapy.

a normal life to them is an effective and convenient prophylactic therapy


And finally, we enable you to find and form inspired communities.

and finally we enable you to find and form inspired communities


Our second step is that all hands at Oculus will be focused on breaking even.

our second step is that all hands at oculus will be focused on breaking even


Good afternoon, and thank you for joining us for our first quarter earnings call.

good afternoon and thank you for joining us for our first quarter earnings call


In institutions that create the government guaranteed bonds tend to sell them

and institutions that create the government-guaranteed bonds tend to sell them


in the markets you're in or sort of what you're looking at as you move through this year.


If the entire lateral is not landed directly or is not all communicating

if the entire lateral is not landed correctly or is not all communicating


rather than something that we are more concerned by.


These statements represent management's current expectations and are inherently uncertain,

these statements represent management's current expectations and are inherently uncertain


something that we're assessing right now. It is still too early

something that we are assessing right now it is still too early


healthiness of the pipeline, meaning the quality of the opportunities we see

the healthiness of the pipeline meaning the quality of the opportunities we see


somewhat semantics on how we're starting up the machine. We're really taking a very

somewhat semantics on how we're starting up the machine we're really taking a very


Our Consumer Products business continues to bring us a mix of opportunities and challenges.

our consumer products business continues to bring us a mix of opportunities and challenges


And we also have the first full year of operation of our new media team.

and we also have the first full year of operation of our new media team


increased regulation around privacy in 2016. It does take a couple of years for

increased regulation around privacy in 2016 it does take a couple of years for those


For additional discussion of these risks and uncertainties and other factors,

for additional discussion of these risks and uncertainties and other factors


a brave person right now that would want to sit there guessing the markets for the next few months.


We meet these challenges with an elevated speed according to our REinvent program.

we meet these challenges with an elevated speed according to our reinvent program


for a full discussion of the company's risk factors. I will now turn the call over to Michael Collins.

for a full discussion of the company's risk factors i will now turn the call over to michael collins


The bank continues to maintain a highly liquid and conservative balance sheet.

the bank continues to maintain a highly liquid and conservative balance sheet


We are launching new platforms to improve merchandising operations on a weekly basis.

we are launching new platforms to improve merchandising operations on a weekly basis


Next, we help you build powerful habits rooted in science.

next we help you build powerful habits rooted in science


and the excess liquidity that results in a temporary drag on our interest earning asset yield.


is it just optimism or are you actually seeing improved business conditions?


in strengthening the balance sheet since the company went public 4 years ago.


We also benefited from favorable currency exchange rates in Brazil in the third quarter.

we also benefited from favorable currency exchange rates in brazil in the third quarter


income is going to come in the second half. So I think we're being pretty consistent on that.

income is going to come in the second half so i think we're being pretty consistent on that


so that everything that we get today is value creation. It's not a revenue driver,

so that everything that we get today is value creation it's not a revenue driver


and revenue by geographic region to the Investors section of our website.

and revenue by geographic region to the investors section of our website


put the margin under pressure going forward? Or is it fair to assume that these margins levels

put the margin under pressure going forward or is it fair to assume that these margins levels


At the end of the third quarter, the pipeline emerging from our Partnered Discovery activities

at the end of the third quarter the pipeline emerging from our partner discovery activities


We will post the most relevant questions and answers in the For Investors section of our website.

we will post the most relevant questions and answers in the foreign investors section of our website


and your losses will be covered by other people. Then, of course,

and your losses will be covered by other people then of course


And we are also expecting -- this is very important and I will come back to it,

and we are also expecting -- this is very important and i will come back to it


in keeping with our company's commitment to what we call positive care,


as opposed to looking at some of the smaller savings opportunities that will come later.


The format for today's call will include remarks from FibroGen's management team

the format for today's call will include remarks from fibrogen's management team


And then on a reactive basis, either by means of just the normal course calls that we get

and then on a reactive basis either by means of just the normal course calls that we get


In the past, we have not considered license agreements as part of our development plan.

in the past we have not considered license agreements as part of our development plan


our collective belief in the combination of wellness driven by nutrition


flavored milk and ice cream reported solid sales growth and market share gains.


individually with just the Outdoor Retailer brand. And so we're going to have to work through some

individually with just the outdoor retailer brand and so we're going to have to work through some


trying to bring back sales among existing customers at some points and finding new customers at some points.


We have also spent a great deal of time assessing structural aspects of our organization.

we have also spent a great deal of time assessing structural aspects of our organization


Our internal measures of success are, therefore, focused on progress and market penetration,

our internal measures of success are therefore focused on progress in market penetration


In the last year, if you include Harbor and Sunshine, we've increased fee income

in the last year if you include harbor and sunshine we've increased fee income


It's aligned with the expectation, but nevertheless, a little bit higher than we have seen

it's aligned with the expectation but nevertheless a little bit higher than we have seen


to make sure that we invest it very, very well and that we get the returns.

to make sure that we invest it very very well and that we get the returns


This will require a level of systemization, which we have been diligently working through.

this will require a level of systemization which we have been diligently working through


is doing equity between now and the end of the year, would you consider that opportunistic?

is doing equity between now and the end of the year would you consider that opportunistic


and refinance in the market. I think that will be the main source

and refinance in the market i think that will be the main source


This means getting to a debt balance that is suitable for our core growth assets,

this means getting to a debt balance that is suitable for our core growth assets


and they will expand as the customers migrate and we're, again, constantly focused on

and they will expand as the customers migrate and we're again constantly focused on


The decrease was primarily due to lower average loan balances on the year.

the decrease was primarily due to lower average loan balances on the year


cleaning up to make sure that in case something happens in the future, you're covered. And

cleaning up to make sure that in case something happens in the future you're covered and


particularly in our Industrial and Electronics and Energy businesses.

particularly in our industrial and electronics and energy businesses


And finally is be prepared to ramp this up as quickly as possible.

and finally is be prepared to ramp this up as quickly as possible


And do you know whether you have received a priority review?

and do you know whether you have received a priority review


As a reminder, we have decided to increase the expected return of Compass

as a reminder we have decided to increase the expected return of compass


We have a lot of customers which are in the

we have a lot of customers which are in the


This increase in gross profit dollars was primarily related to the inclusion of HBC Europe

this increase in gross profit dollars was primarily related to the inclusion of hbc europe


Additional details on our share repurchases are available on the study database.

additional details on our share repurchases are available on the seti database


In the second quarter, all of our business lines experienced good growth

the second quarter all of our business lines experienced good growth


And while we certainly talk about comp and look at it, a lot of our

and while we certainly talk about comp and look at it a lot of our


We also have some zones of high zinc and I think I've mentioned in previous quarters,

we also have some zones of high zinc and i think i've mentioned in previous quarters


So we plan to stay in the protocol and we hope to see other members stay in as well.

so we plan to stay in the protocol and we hope to see other members stay in as well


Looking forward, if today's exchange rates were to remain unchanged for the rest of

looking forwards if today's exchange rates were to remain unchanged for the rest of


and I know you know this, is to see an acceleration of

and i know you know this is to see an acceleration of


This is important work and will lay the foundation for our future ag company.

this is important work and will lay the foundation for our future ag company


This is only done if the first 2 options don't provide a better solution.

this is only done where the first 2 options don't provide a better solution


have been lower than both the client and vendors anticipated.


And we launched Cannon Blast to compete successfully in the shot occasion.

and we launched canon blast to compete successfully in the shot occasion


And these are also the physicians who are most likely to move quickly.

and these are also the physicians who are most likely to move quickly


As we increase new store investment, control sales of new locations,

as we increase new store investment control sales of new locations


and wiser perspective at a faster pace with a flatter learning curve.

and wiser perspectives at a faster pace with a flatter learning curve


as we continue to strengthen and modernize our Pennsylvania delivery network.

as we continue to strengthen and modernize our pennsylvania delivery network


And the results of these actions are starting to pay results.

and the results of these actions are starting to pay its results


And at this time, that's the priority for us as opposed to

and at this time that's the priority for us as opposed to


We expect this increase to be driven primarily by operating gains.

we expect this increase to be driven primarily by operating gains


We do not undertake any obligation to update these statements after the date of this call.

we do not undertake any obligation to update these statements after the date of this call


And obviously those end markets we believe

and obviously those end markets we believe


The transformation of the team has been truly additive, and the quality of the people we've been able to attract and retain

the transformation of the team has been truly additive and the quality of the people we've been able to attract and retain


These favorable unlockings were mainly driven by the performance of equities in our customer accounts

these favorable unlockings were mainly driven by the performance of equities in our customer accounts


and divested business results and other items outside of adjusted operating income


And to our knowledge, pulp prices in Asia for March

and to our knowledge pulp prices in asia for march


below what we've been planning in the year and again reflecting

below what we've been planning right in the year and again reflecting


the result of which should be margin expansion from all 3 segments next year.


as you have heard from Marc and Kate, we remain confident

as you have heard from mark and kate we remain confident


However, it is important to note that this segment is still solidly profitable

however it is important to note that this segment is still solidly profitable


We expect belly prices to be above last year as the industry continues to experience

we expect belly prices to be above last year as the industry continues to experience


your capacity to do another small bank deal? Or maybe another larger deal?

your capacity to do another small bank deal or maybe another larger deal


So -- but if something were to come along that was a product extension or was something that

so -- but if something were to come along that was a product extension or was something that


the situation will certainly get resolved, but we do feel that there is sort of a positive

the situation will certainly get resolved but we do feel that there is sort of a positive


would tell you that the opioid use in this population is relatively high,

i would tell you that the opioid use in this population is relatively high


This concludes today's conference call. You may now disconnect.

this concludes today's conference call you may now disconnect


Human Resources are what matters most to our company.

human resources are what matters most to our company


These and other attributes have helped AMU to become a leader in serving military and veteran communities.

these and other attributes have helped amu to become a leader in serving military and veteran communities


when you would expect those volumes to inflect or be positive.


You're including the share repurchase activity done to date in that number.

you're including the share repurchase activity done to date in that number


I can confirm we will have continuity on the key drivers on the plan,

i can confirm we will have continuity on the key drivers on the plan


class. And that is also one of the reason why it's taking a little bit of time.

class and that is also one of the reason why it's taking a little bit of time


Our mobile offers give us great flexibility and leverage to grow and retain customers.

our mobile offers give us great flexibility and leverage to grow and retain customers


As it relates to the kind of relationship we need to have, I think we have the kind of relationships with

as it relates to the kind of relationship we need to have i think we have the kind of relationships with


which contributes to the finished product that is sold in stores.


take a little bit more risk so that you can grow volumes faster? Thanks.


We'll also study the potential for supplying materials for purposes other than concrete.

we'll also study the potential for supplying materials for purposes other than concrete


you really begin to see the cadence build, and our partnership with Stephen is one that we're learning how to do this.

you're really beginning to see the cadence build and our partnership with stefan is one that we're learning how to do this


we need to be able to attract and retain the talent necessary to expand and manage the business.


We expect all these product innovations to support customer growth moving forward.

we expect all these product innovations to support customer growth moving forward


but it is the journey for most of our customers


which were partially offset by other net favorable working capital changes.


the capacity may move, but we would like to see utilization pick up,

so the capacity may move but we would like to see utilization pick up


everyone's reading. We're certainly looking through a lot of the other peer company filings to get a read on that,

everyone's reading we're certainly looking through a lot of the other peer company filings to get a read on that


This is not unexpected from our standpoint and has been built into the guidance.

this is not unexpected from our standpoint and has been built into the guidance


rather than a failure of execution by our stations.


We're doing very well in a difficult region, but we know how to do it.

we are doing very well in a difficult region but we know how to do it


is reflective in many different examples. And you're starting to see that evidence itself

is reflective in many different examples and you're starting to see that evidence itself


That may have ticked up somewhat, right, with the competition for feedstock out there.

that may have ticked up somewhat right with the competition for feedstock out there


Please keep in mind that these forward-looking statements are subject to known and unknown

please keep in mind that these forward-looking statements are subject to known and unknown


where the audio recording of the webcast will also be archived for future reference.


I guess, post the changes and broken down into the individual assets?

i guess post the changes and broken down into the individual assets


I did not. Okay. And would you tell us what platform it was on?

i did not okay and would you tell us what platform it was on


that we continue to enhance our value proposition in the mobile business in Argentina.

that we continue to enhance our value proposition in the mobile business in argentina


We think that gives certainty for the customer and gives us certainty as well.

we think that gives certainty for the customer and gives us certainty as well


exactly. That -- and that's why we called out a couple of things continuing into the first quarter.

exactly and that's why we called out a couple of things continuing into the first quarter


Do you need to start thinking about it more in the second half of this year?

do you need to start thinking about it more in the second half of this year


and I cannot calculate right away. But


If you look into our first quarter, the short version of the message is

if you look into our first quarter the short version of the message is


was 34% as we secured more contracts and executed at a better level.


opportunities or challenges does this present to West?

opportunities or challenges does this present to west


driven in large part by very strong performance in Credit trading and Macro,

driven in large part by very strong performance in credit trading and macro


It makes for a very uncertain environment to predict the policy given the

it makes for a very uncertain environment to predict the policies given the


a stronger presence in South America and Brazil.

a stronger presence in south america and brazil


who also improved the outlook from negative to stable.


Lower yarn volume was due to trade issues impacting our customers.

lower yarn volume was due to trade issues impacting our customers


So with that, I will turn it over to the operator to take your questions.

so with that i will turn it over to the operator to take your questions


So I think from a weather standpoint, we gave you the number of bad weather days

so i think from a weather standpoint we gave you the number of bad weather days


How are you dealing with the current scenario?

how are you dealing with the current scenario


There's plenty of scope for optimization and life extension during that period.

there's plenty of scope for optimization and life extension during that period


These changes have some impact on our income statements and our cash flows.

these changes have some impact on our income statements and our cash flows


Can we get some color on the flow of revenues in the upcoming quarters? I think you mentioned the first quarter

can we get some color on the flow of revenues in the upcoming quarters i think you mentioned the first quarter


how much more do you think you have in terms of capacity of your existing staff?


comment on your revenue growth


discuss them historically and then obviously being sure that we think


No, I think that we'll be able to do the drill and do what we need to do.

no i think that we'll be able to do the drill and do what we need to do


Our restaurant teams and field leaders are quickly embracing this new focus with enthusiasm.

our restaurant teams and field leaders are quickly embracing this new focus with enthusiasm


The share of international revenues has increased

the share of international revenues has increased


compared to the adjusted EBIT and caused particularly by lower interest costs.

compared to the adjusted ebit and costs particularly by lower interest costs


usually on an annual basis starting January 1, but we've continued to move up. And as our

usually on an annual basis starting january 1 but we've continued to move up and as our


So as long as all that operational activity continues in such a good way, I don't think there are any

so as long as all that operational activity continues in such a good way i don't think there are any


have lifted our gross profit margin expectations to a new level.


then the margin should come up to a double.


Moving on to capital management. Our philosophy is not changed.

moving on to capital management our philosophy has not changed


But that's the amount of gain that we would expect to see out of that portfolio

but that's the amount of gain that we would expect to see out of that portfolio


foreign currency impact and the impact of the accounting change for stock compensation.


are able to compare in a better way our capital levels to the ones of our international peers.


But many companies themselves kind of move in the goalposts in terms of thinking about their cushions for

but many companies themselves kind of moving the goalpost in terms of thinking about their cushions for


as well as storage and transmission opportunities in Arizona.

as well as storage and transmission opportunities in arizona


Thank you very much for your questions.


In addition to the funding, all Xcede notes have been converted to equity,

in addition to the funding all xceed notes have been converted to equity


The effects of this devaluation are continuing into our current year.

the effects of this valuation are continuing into our current year


we have very little vacancy in our Seattle parks, and options are limited in the market.

we have very little vacancy in our seattle parks and options are limited in the market


We will post the presentation on our website for information purposes in the coming days.

we will post the presentation to our website for information purposes in the coming days


We continue to seek opportunities from new and recurring customers,

we continue to seek opportunities from new and recurring customers


and welcome to the AveXis conference call to discuss third quarter financial and operating results

and welcome to the evexis conference call to discuss third quarter financial and operating results


wherein the profitability parameters have again shown a remarkable improvement.


This leads to a strengthening balance sheet while increasing liquidity and flexibility moving forward.

this leads to a strengthening balance sheet while increasing liquidity and flexibility moving forward


So we don't foreclose small markets if we see some unique opportunities or

so we don't foreclose small markets if we see some unique opportunities or


building the company to grow everything good in the company 10% a year through a cycle.


This increased activity in the quarter more than offset a reduction compared to the previous year

this increased activity in the quarter more than offset a reduction compared to the previous year


We are optimistic that a refinancing will occur and, if it does,

we are optimistic that a refinancing will occur and if it does


it seems like -- I didn't calc the high end of the guide, but it's probably like

it seems like -- i didn't count the high end of the guide but it's probably like


especially in the Permian have yet to be fully evaluated by the market.

especially in the permian have yet to be fully evaluated by the market


But at the same time, we remain optimistic and the business continues with its momentum.

but at the same time we remain optimistic and the business continues with its momentum


You should not consider the presentation of this additional information in isolation

you should not consider the presentation of this additional information in isolation


What JCR allows us to do is to focus on providing that type of capital to the rest of the market,

what jcr allows us to do is to focus on providing that type of capital to the rest of the market


Organic volume and utilization was neutral to margins in the quarter,

organic volume and utilization was neutral to margins in the quarter


was primarily due to our decision to invest in the customer


And the intention would be to refinance it.

and the intention would be to refinance it


My last one's really around the shape of the yield curve. Obviously the 5 and 10 years backed up quite a bit,

my last one is really around the shape of the yield curve obviously the 5 and 10 years backed up quite a bit


This operation is important for different reasons that you will certainly appreciate.

this operation is important for different reasons that you will certainly appreciate


This system is intended to be the beginning of a broader collaboration.

this system is intended to be the beginning of a broader collaboration


So we shouldn't have these problems that we had this summer.

so we shouldn't have these problems that we had this summer


continuously on execution to drive the project margins. And you can tell from

continuously on execution to drive the project margins and you can tell from


maybe which banners you might be seeing some of the impact and that might be causing the downward revision? And

maybe which banners you might be seeing some of the impact in that might be causing the downward revision and


We help guide educators through a federal student loan forgiveness and repayment programs

we help guide educators through federal student loan forgiveness and repayment programs


This does conclude the call. You may now disconnect. Everyone, have a wonderful day.

this does conclude the call you may now disconnect and everyone have a wonderful day


So we still see some of those unique opportunities in the marketplace. They're still there.

so we still see some of those unique opportunities in the marketplace they're still there


I think this is an incredible achievement especially in the Chicago marketplace.

i think this is an incredible achievement especially in the chicago marketplace


We expect this item to be in nearly full distribution by the middle of the summer.

we expect this item to be in nearly full distribution by the middle of the summer


we did actually mine overall probably a higher gold grade than what we fed through the plant


With that, thank you everybody for being on this call and have a good day.


leveraging on the synergistic platforms that we are using together. There is one cloud

why leveraging on the synergistic platforms that we are using together there is one cloud


and our value approach is illustrated also in Spain as in France

and our value approach is illustrated also in spain as in france


assist customers easier to look at things in the store and online.


And I don't think -- I think all of us are pretty occupied with

and i don't think -- i think all of us are pretty occupied with


and continued to message our clear differentiation from the competition.


in terms of the low hanging fruit, how far does that actually get you?

in terms of the low-hanging fruit how far does that actually get you


Yes. Yes, and I don't think it's a fact that it's a shift to

yes yes and i don't think it's the fact that it's a shift to


of laws throughout Europe. Now it may be necessary to have some state-by

of laws throughout europe now it may be necessary to have some states


the lowering of dose levels to reduce the ultimate cost to administer to patients


largely driven by increased demand and a slight increase in rates.


established an exchangeable bond based on the VEON shares.

established an exchangeable bond based on the vion shares


So if the Navy chooses not to


Let me briefly recap each of the new portfolio company investments.

let me briefly recap each of the new portfolio company investments


Turning to Page 7. You'll see the things we're focusing on in response to these challenges.

turning to page 7 you'll see the things we're focusing on in response to these challenges


that is we consider business a single segment


and also taken into consideration the fact that the cost are currently decreasing

and also taking into consideration the fact that the costs are currently decreasing


how many of our units in the market that we are actually servicing and overhauling in the market,


think about exiting some of those businesses at a favorable point in the cycle?

to think about exiting some of those businesses at a favorable point in the cycle


The impact of these incidents masked solid results in a number of areas.

the impact of these incidents match solid results in a number of areas


successful growth that we had in our branded retail network on a year-over-year basis.


So as you can see, we made good progress on many fronts this year.

so as you can see we made good progress on many fronts this year


Okay. That sounds good. And then the other question I had was

okay that sounds good and then the other question i had was


We're increasing our focus more actively on partnership for new product development activities

we're increasing our focus more actively on partnerships for new product development activity


you might come up with a number that might be different than what we're coming up with. But,

you might come up with a number that might be different than what we're coming up with but


into ZTE that have an impact sit among our customer base.

into zte that have an impact sit among our customer base


improving ventilation and other working conditions and supporting future underground exploration.


The complexity associated with the development of 5G and its prototypes

the complexity associated with the development of 5g and its prototypes


are as important as the investments we make to expand and enhance our portfolio.


And oil prices have declined from the peaks we saw late last year.

and oil prices have declined from the peaks we saw late last year


we used cash this part of the year across all of our businesses, as we're investing in inventory for

we use cash this part of the year across all of our businesses as we're investing in inventory for


I'd like to focus for a minute on one of Nick's last comments regarding our cash generation.

i'd like to focus for a minute on one of nick's last comments regarding our cash generation


I don't think we've ever mentioned it on one of these calls, but we were partnering with them for years on their CashEdge solution.

i don't think we've ever mentioned it on one of these calls but we were partnered with them for years on their cash edge solution


prudent move for them to try to do something like what you're suggesting. But

a prudent move for them to try to do something like what you're suggesting but


And that the evidence, while reasonable from a preclinical and early clinical

and that the evidence while reasonable from a preclinical and early clinical


Operating margins were higher than expected at the time of the AGM trading statement,

operating margins were higher than expected at the time of the agm trading statement


so we don't put ourselves in a position where we have a large amount of obsolete inventory


The credit facility provides flexibility for royalty acquisitions which meet our criteria.

the credit facilities provide flexibility for royalty acquisitions which meet our criteria


With volumes increasing and as we experience step changes to production curve

with volumes increasing and as we experience step changes to production curve


I think we can triple the profits there on that sort of nominal basis or regular basis.

i think we can triple the profits there on a sort of nominal basis or regular basis


we have made targeted investments in both public and private cloud solutions.


situations are of the customers in terms of timing and so forth. So it's a little hard to really pin down

situations are the customers in terms of timing and so forth so it's a little hard to really pin down


Strong operational performance in our core liquids pipelines business is the key reason.

strong operational performance in our core liquids pipelines business is the key reason


for us. You are right to point out other parts of the machine would have more of an impact.

for us you're right to point out other parts of the machine would have more of an impact


the flip side of that is we hear from most of our customers, is they are also in the work for talent and space.

the flip side of that is what we hear from most of our customers is they are also in the war for talent and space


The quarter included meaningful progress in our Buckhead portfolio.

the quarter included meaningful progress in our buckhead portfolio


kind of the low and high ends of the range. So to be honest, I'd say, last quarter,

kind of the low and high ends of the range so to be honest i'd say last quarter


So they have to hit certain free cash flow numbers historically

so they have to hit certain free cash flow numbers historically


which was expected due to the upcoming commercial launch of our new platform, Nexus.

which was expected due to the upcoming commercial launch of our new platform nexus


So I would say, this past quarter, they were slanted a little bit more towards

so i would say this past quarter they were slanted a little bit more towards


do those syndications and the securitizations and are involved in that market, they will tell you that

do those syndications and those securitizations and are involved in that market they will tell you that


really a very nice picture on the free cash flow side. So that has been the main driver

really a very nice picture on the free cash flow side so that has been the main driver


on a consolidated basis, overall the numbers are up.

on a consolidated basis overall the numbers are up


And that's the big driver in addition to that lack of

and that's the big driver in addition to that lack of


Several slides in the appendix give more granularity on all the guidance updates.

several slides in the appendix give more granularity on all the guidance updates


And I think, where we are it's quite clearly that the growth is coming through the south

and i think where we are is quite clearly that the growth is coming through the south


Orders and sales were up, thanks to firm results of the control segment.

orders and sales were up thanks to firm results of the control segment


logistics special lists this morning as well.

logistics specialists this morning as well


through higher production, improving efficiency and reducing costs.

through higher production improving efficiency and reducing costs


There are areas that are outside that as we continue to evolve and develop. By the way, that's in HR Solutions

there are areas that are outside that as we continue to evolve and develop by the way that's in hr solutions


primarily attributable to the inventory investment we made during the quarter,


pretty broadly across the company. The places where we've accelerated our investment

pretty broadly across the company the places where we've accelerated our investment


Finally, Constellation really hit a sweet spot in the third quarter.

finally constellation really hit a sweet spot in the third quarter


whether we would deploy it over time. For a long time, we've responded no.

whether we would deploy it over time for a long time we've responded no


and this coverage of manufacturers positions us strategically in relation to some new product launches,


This was largely due to weather and its impact on project timing.

this was largely due to weather and its impact on project timing


And then in the meantime, on the stores that are coming up, we have a

and then the meantime on the stores that are coming up we have


Bell is very encouraged by the reception of the aircraft

bell is very encouraged by the reception of the aircraft


were relatively consistent with the same period of last year, although on a bit of a different job mix.

were relatively consistent with the same period of last year although on a bit of a different job mix


Our plans that we have built for this year that we've rolled out and that we shared with you on the last call

our plans that we have built for this year that we've rolled out and that we shared with you in the last call


Finally, before I turn the call over to Jeff, I wanted to revisit our priorities.

finally before i turn the call over to jeff i wanted to revisit our priorities


On the next page, we have the net interest margin progression.

on the next page we have the net interest margin progression


to get people to really understand what we have and what we offer at the property level.


without the impact of a central bank or a government sponsored enterprise


that could cause actual results to differ materially from those projected by us.


Well, I think you know that Apple keeps things very close to their chest

well i think you know that apple keeps things very close to their chest


We are working hard and we are improving and

we are working hard and we are improving and


If you are asking about the cost of this process, if I understood well of your question,

if you are asking about the cost of this process if i understood well of your question


So we were dedicated in the past years


So understanding the relationship is small from an economic impact.

so understanding the relationship is small from an economic impact


Good morning, everyone, and thank you for joining us to discuss our first quarter.

good morning everyone and thank you for joining us to discuss our first quarter


comes together as well as the more recent changes that you've made in the management team,


is it something that's going to take time to develop relationships with these new accounts


As a reminder, although both gas costs and tariffs to the customers were reduced,

as a reminder although both gas costs and tariffs to the customers were reduced


In addition, it is the extreme talent, dedication, strength and abilities of our team members

in addition it is the extreme talent dedication strength and abilities of our team members


The reason for that is because in the first half of the year, we did do some capital raising activities

the reason for that is because in the first half of the year we did do some capital raising activities


We are preparing a new drug application and plan to submit the file later this year.

we are preparing the new drug application and plan to submit the file later this year


We are supporting several larger scale projects with engineering designs and cost estimates.

we are supporting several larger scale projects with engineering designs and cost estimates


we believe this will be a measure that will contribute to the increase.


So that gives us the flexibility to do,


the one situation we're looking at is sort of the unique area of lending

the one situation we're looking at is sort of a unique area of lending


With that, let me turn it over to Mark for a more detailed review of our results.

with that let me turn it over to mark for a more detailed review of our results


Going forward, our customers and partners can expect Syniverse to be more bold,

going forward our customers and partners can expect syniverse to be more bold


trustee to start using CPI to index pensions for those people.

trustee to start using cpi to index pensions for those people


are you looking for within your next couple acquisitions?


We will continue to slowly expand this business in Southern California and other strong markets.

we will continue to slowly expand this business in southern california and other strong markets


For the online application


And the commerce ads, how much that is being accounted for?

and the commerce ads how much that is being accounted for


And I didn't say that the current price is low,

and i didn't say that the current price is low


the company is going to continue to invest in the semiconductor business


Have had -- made tremendous progress with the customer. We've done some further test marketing,

have had -- made tremendous progress with the customer we've done some further test marketing


fiber already, there is no real push from the government to

fiber already there is no real push from the government to


We are a stronger bank today than when we completed the second step 5 years ago.

we are a stronger bank today than when we completed the second step 5 years ago


These factors were partially offset by about 1 point of unfavorable mix.

these factors were partially offset by about 1 point of unfavorable mix


We continue to see strong returns on our demand-creation investments,

we continue to see strong returns on our demand creation investments


it might only lead to worsening the challenges and miss the opportunities.


like it happened so we'll -- our guys will have to be staying closer to our dealers and with

like it happened so we -- our guys will have to be staying closer to our dealers and with our


also on our performance, especially at the beginning of this year.

also on our performance especially at the beginning of this year


the combination of some surprises on costs


necessary so that East West Bank would always be

necessary so that east west bank would always be


The provision for income taxes as a percentage of earnings before taxes

the provision for income taxes as a percentage of earnings before taxes


If something doesn't fulfill our purpose, we shouldn't be doing it. And third,

if something doesn't fulfill our purpose we shouldn't be doing it and third


a lot of different things around scale and increased competitiveness and


the combination has the potential to offer patients something that could change their lives.


now a closely geosteered well that lands in the sweet spot in the formations


yet another example of how we help our customers lower their marginal cost per barrel.


value of returns in these new contracts as we just start working smaller and smaller down the list,

value of return of these new contracts as we just start working smaller and smaller down the list


on behalf of the whole NeoGenomics team, I want to thank you for your time, joining us this morning

on behalf of the whole neogenomics team i want to thank you for your time joining us this morning


highlighting strong execution as well as adoption and expansion of EBA contracts.

highlighting strong execution as well as adoption and expansion of eba contracts


We will continue to emphasize bidding discipline and the critical earnings leverage it creates.

we will continue to emphasize bidding discipline and the critical earnings leverage it creates


for definitions and reconciliations of the measures to the most directly comparable GAAP measures.

for definitions and reconciliations of the measures to the most directly comparable gaap measures


Actual events and results can differ materially from any forward-looking statements.

actual events and results can differ materially from any forward-looking statements


The fire service is a very, very demanding environment. And so

the fire service is a very very demanding environment and so


importance of a drug that can break a


where we have invested in major capital projects.


Because is any part of it linked to the -- linked to crude or something?

because is any part of it linked to the -- linked to crude or something


the right sizing of overheads to match market demand and multiple leadership changes.

the rightsizing of overheads to match market demand and multiple leadership changes


elements of the restructuring plan, it looks like you still maintained the kind of

elements of the restructuring plan it looks like you still maintained the kind of


requirements. And of course, with that additional volume, we can optimize

requirements and of course with that additional volume we can optimize


an improvement in cost savings compared to the first part of the year.


And what happens is, every week, a guy has to march around,

and what happens is every week a guy has to march around


And on top of all of that, we have several new suites of applications that we'll be bringing to market.

and on top of all of that we have several new suites of applications that we'll be bringing to market


part of taking a very targeted and disciplined approach to making these investments is


as far as how you're going to approach the market based on the recent downturn. Or is it

as far as how you're going to approach the market based on the recent downturn or is it


The combination of good revenue development and cost discipline were the core

the combination of good revenue development and cost discipline were the core


right? And I think that wholesale rate continues to be undervalued relative

right and i think that wholesale rate continues to be undervalued relative


strongly diversified business will allow us also to keep a


reflecting the quality of our programs and solid student outcomes.


We believe we're making the right moves to position ourselves well for the long-haul.

we believe we're making the right moves to position ourselves well for the long haul


Other companies may calculate such a leverage metric differently.

other companies may calculate such a leverage metric differently


would result in normalization of oxalate levels in all patients treated.


The agreement contemplates collaboration on more than 10 targets in total.

the agreement contemplates collaboration on more than 10 targets in total


we would take advantage of those opportunities if, again, they made economic sense

we would take advantage of those opportunities if again they made economic sense


We are seeing generally positive macro environments throughout our regions

we are seeing generally positive macro environments throughout our regions


All this is a starting point with a caveat that our customers' plans can change quickly

all this is a starting point with the caveat that our customers' plans can change quickly


so we can accelerate our transformation into a diversified industrial company.


As a reminder, Broadsmart is among the very few highly profitable,

as a reminder broadsmart is among the very few highly profitable


addition of the Nova system expansion work to be done.

addition of the nova system expansion work to be done


sort of like historical discipline the way we think about it?


to move that to the premium segment out of home. And that has really done very well for us.

to move that to the premium segment out of home and that has really done very well for us


and we do not undertake to update any forward-looking statement that may be made from time to time


and we've announced also the successful closing of a big contract,


what is going on strategically in the industry


Our credit area was the only area to leverage our expenses versus last year.

our credit area was the only area to leverage our expenses versus last year


The first one is, you have seen that we have published excellent results.

the first one is you have seen that we have published excellent results


On the next slide, we provide details about our free cash flow and our capital returns to shareholders

on the next slide we provide details about our free cash flow and our capital returns to shareholders


and subject to any corporate activity, which may necessitate alternative uses of capital.

and subject to any corporate activity which may necessitate alternative uses of capital


the ability to have that deep engagement like I just mentioned, the level of intelligence

the ability to have that deep engagement like i just mentioned the level of intelligence